The GBP/USD currency pair chart has managed to show a positive price increase pattern for 3 consecutive days this week.
Although the United States (US) inflation data recorded an increase, the US dollar remained weak towards the end of the week.
Meanwhile, the Pound was supported by the UK economic growth data published with good readings in the European session yesterday.
The UK Gross Domestic Product (GDP) data for December 2024 recorded a monthly growth of 0.4%, better than the forecast to remain at 0.1% as previously read.
On Wednesday, the price jumped from the 1.24000 zone to exceed the 1.25000 level to continue trading on Thursday.
The price, which continued to rise until the New York session yesterday, reached a new high of 1.25600 which successfully surpassed the high in last week's trading.
The price is expected to remain bullish with the movement signal still above the Moving Average 50 (MA50) support line on the 1-hour time frame on the chart.
If the upward pattern continues, the focus level at 1.26000 is seen as the closest target to be tested.
The latest 8-week high will be recorded by the price with an increase that exceeds that level.
On the other hand, if it makes a decline again, the zone around 1.25000 will be approached again after the price successfully broke through it on yesterday's increase.
A decline lower could trigger an early signal for a change in the price trend again and risk a drop to the bottom.
